14 Sep 2017

BVCA reveals the best North West companies of 2017

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The British Private Equity & Venture Capital Association (BVCA) has announced the winners of the North West Management Team Awards, its annual celebration of UK companies supported by private equity and venture capital funds, produced in association with Grant Thornton UK LLP.

Now in their ninth year, the BVCA Management Team Awards showcase brilliant businesses across the country that have shown outstanding performance over the past 12 months.

The North West winners were announced and presented with their prizes tonight as part of the annual North West Dinner, held at the Hilton Manchester Deansgate on Thursday night.

All the winners will now go into the national final to compete against other business from around the UK, with the national winners revealed at the BVCA Gala Dinner on 30 November in London.

The full list of winners for the North West Management Team Awards 2017:

Winner 
Backed by
Category
Travel Counsellors Equistone Partners Europe Large Company Management Team
Utiligroup NorthEdge Capital Mid-Market Management Team
Elucigene Diagnostics Percipient Capital Venture-backed Management Team
The Alchemist Bars and Restaurants Palatine Private Equity Growth Management Team
Excelsior Technologies Enact (Endless LLP) Business Transformation Management Team

Steve O’Hare, chair of the North West judging panel and Senior Partner at Equistone Partners Europe, said: “The North West is renowned as a hotbed for UK business and innovation, and the winners of the BVCA North West Management Team awards are all perfect illustrations of the dynamic and vibrant community we have here. Congratulations to all of them and the best of luck in the national final.”

Philip Grindley, Transaction Services Partner in Grant Thornton’s North West Advisory team, said: “Delivering the change and growth opportunities private equity investors identify is no mean feat, requiring enormous skill in strategy, operations and delivery and it’s really important to recognise the success of these outstanding management teams.

“All have helped drive the growth of their businesses and have therefore added significant value in terms of jobs and investment to the North West economy.”


North West winners

Large Company Management Team

Travel Counsellors
Backed by: Equistone Partners Europe


Travel Counsellors is a bespoke travel and holiday provider headquartered in Manchester.

The company has a distinctive business model, providing bespoke travel and holiday packages through its expert travel professionals. The judges were impressed with the strong growth since the Equistone investment in 2014. This is underpinned by a strong focus on recruiting the best talent, combined with investment in supporting IT and booking systems. International growth is also increasing.



Mid-Market Management Team

Utiligroup
Backed by: NorthEdge Capital


Utiligroup is a software provider for the UK energy market and is based in Chorley.

CEO Matthew Hirst and his team saw an opportunity to provide software and information in the changing energy market, partnering with NorthEdge in their 2014 MBO. The judges were impressed with the pace at which they have built this business and the strong value creation for shareholders, culminating in the exit for £100m to Energy Services Group in April this year.



Venture-backed Management Team

Elucigene Diagnostics
Backed by: Percipient Capital


A genetics testing kit maker, Elucigene Diagnostics is based in Citylabs in Manchester.

The judges were impressed with the way this team had combined investment in innovative diagnostic solutions for infertility, cystic fibrosis and other diseases whilst still maintaining strong, profitable growth. Elucigene has also built a wide international presence for a relatively small company in its sector.



Growth Management Team

The Alchemist Bars and Restaurants
Backed by: Palatine Private Equity


The cocktail specialist bar and restaurant chain.

The judges applauded Simon Potts and his young team for creating a new and profitable concept, based around a theatrical cocktail experience. Since opening their first site in December 2010, they have built a strong, creative employee culture, evidenced by being listed in the Sunday Times 100 best companies to work for. Ambitious plans to grow from nine to 19 sites over the next two years look achievable.



Business Transformation Management Team

Excelsior Technologies
Backed by: Enact (Endless)


A manufacturer of flexible packaging for the food and confectionery sector, headquartered in Deeside, Flintshire.

Enact, an Endless fund, acquired this flexible packaging business when it was in difficulties in December 2014 and, working with Executive Chairman Keith Chapman, delivered an impressive turnaround. Keith and his team have rapidly improved margins, invested in R&D and design, restored profitability whilst also growing headcount. Their efforts were recognised in the £33m exit to Mondi Group in February.



For further information and photographs, please contact

Tom Allchorne, Director, Communications, BVCA
+44 (0)20 7492 0407
[email protected]


Notes to editor

  1. The BVCA Management Team Awards, produced in association with Grant Thornton UK LLP, are the only awards to celebrate the achievements of private equity and venture capital-backed management teams. There are eight regions in total, each with their own judging panel, and all winners are automatically forwarded to the national final, the results of which will be presented at the BVCA Annual Gala Dinner on 30 November in London. Please click here for more information.

  2. The North West judging panel consists of: Steve O’Hare (Chair), Equistone Partners Europe; Ryan Bevington, Maven Capital Partners; Matthew Bryden-Smith, Grant Thornton; Andy Gregory, Business Growth Fund; Kieran Lawton, Palatine Private Equity; Pete Clarke, Livingbridge; and Jonathan Bell, LDC.

  3. The British Private Equity & Venture Capital Association (BVCA) is the industry body for the UK private equity and venture capital industry. The BVCA has over 650 member firms, representing the vast majority of UK-based private equity and venture capital firms, institutional investors and the advisory community.

  4. 4. Grant Thornton is one of the world’s leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, forward-thinking advice. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients and help them to find solutions. More than 35,000 Grant Thornton people, across over 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work. The UK Grant Thornton member firm provides services to over 40,000 privately held businesses, public interest entities and individuals. It is led by more than 185 partners and employs more than 4,200 of the profession's brightest minds. Find out more at www.grant-thornton.co.uk.








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